New Delhi, May 26 -- With the West Asia crisis threatening to deepen India's USD 333 billion trade deficit, economists and tax experts at the Think Change Forum roundtable on Monday urged a shift from reactive subsidies to a "selective economic doctrine" built on tax moderation, restricted luxury imports, and faster trade-remedy enforcement to shield domestic industry and conserve foreign exchange.

A new TCF white paper titled "Economic Ringfence Amid the West Asia Crisis: A Three-Point Agenda for Export Competitiveness, Import Discipline and Trade Defence" was debated at India International Centre, with experts arguing India must move beyond fiscal stopgaps as crude volatility, freight disruptions, and supply-chain shocks persist. India...